UK fintech Lightyear launches social investing tool

New fintech startup Lightyear today announces the launch of Lightyear Profiles, a way for investors to share high-level details about their portfolio with friends. It creates individual and personalised web pages for each user showcasing their portfolio holdings, recent activities and which stocks are on their watchlist.

Talking about money has often been a taboo topic. A survey last year found 75% of Brits are uncomfortable talking about money with friends and family. But things are changing, especially when it comes to investing. Retail investing boomed in both 2020 and 2021, and so did investment communities with the number of younger investors taking part growing rapidly. With Profiles, Lightyear is arming customers with the tools they need to be part of, and create, investment communities.

People are now talking, sharing and getting inspiration from each other when it comes to investing, happening predominantly online in forums or on social media. Lightyear has built Profiles, which is the company’s first expansion into social investing tools, believing its potential to make learning about investing far more accessible and an easy way to stay connected with friends on investment journeys.

Martin Sokk, CEO and Co-Founder at Lightyear: “Our goal has always been to build a platform that’s cognitively easy to use, has the best customer experience and helps people become the best investors they can be. People are having conversations about investing far more frequently now, and we wanted to give them the tools to be able to structure those discussions, create their own communities and make it easier for them to share.”

Nishil Parekh, Product at Lightyear, adds: “As a product builder, I spend a huge amount of time with customers to understand how they are approaching investing and what drives them. Something has become very apparent recently: more and more people are talking about investing with their friends. It can be really intimidating to make that first investment, or to even know where to start, and the dialogue between friends is proving to be a catalyst that we wanted to build into the product.”

Every customer has the option to set their Lightyear Profile to either public or private, and by default it’s always set to private, which won’t change unless a customer chooses to share. Customers have the ability to change the setting between the two at any time. Portfolio balance, transaction amounts and personal details are never shared on the profile web link.

From today, users can switch on Lightyear Profiles in their account, and start sharing with their friends through messages, or post them on social media. For more information, please see our product blog and to look at an example, see Nishil Parekh’s portfolio here: https://golightyear.com/go/nishil

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Lisa Baker is the Editor of Always Finance, and writes about Business, Finance Technology and Healthcare. Lisa is also the owner of Need to See IT Publishing.